Little new office space is available in Leington and Richland counties.

Commercial Lexington County space is going for $17 to $20 a square foot annually, Ted McGee of McGee Real Estate said.

The higher rates are 1st class buildings that often include owner-provided insurance, taxes and utilities.

Rising construction costs have discouraged commercial developers.

With higher costs, owners need to charge a minimum $20 a square foot, he said.

Vacancy rates are at an all-time high of 19.4% in the Columbia metropolitan area.

The average in Columbia is $18.79 per square foot annually. That’s more than $1,500 per month for 1,000 square feet.